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4237 Watermill Ave Orlando, FL 32817

3 Beds 2 Baths 1,771 sqft Built 1983

$339,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $191.42
  • 4 Days on Market
  • MLS # : O5910769
  • Updated Date : 12/10/2020 at 15:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,771 sqft
  • Baths : 2 full
Listing Agent

Florida Home Realty & Invest

Listing Agent's Description

Beautifully renovated 3 bedroom 2 bath home with attached 2 car garage in highly sought after area. The interior features a split floor plan with lots of natural light. The kitchen with granite counter tops is located in the center of the home and open to a family/gathering room. This family room overlooks the large screen porch and beautiful backyard with a spa which includes 2 fountains and even a rock waterfall, as well as a solid brick shed. A separate dining room complete with laminate flooring and chandelier makes for a lovely formal dining experience. The large backyard is ideal for all sorts of outdoor activities, the possibilities are endless!! One of the best values around. Zoned for great schools! Solid Block & Stucco Construction! You'll love this terrific neighborhood w/ community fishing pier, Tennis & Basketball Cts & Playground! Only 5 minutes to 417, 10 minutes to UCF, Full Sail & Valencia College; 15 MIN. to downtown Orlando or downtown Winter Park! All room sizes approximate.

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MARKET HIGHLIGHTS

  • Orlando metro contributes to 13.8% of Florida state economy i.e. Gross State Product (USMayors.org, 2018)
  • Orlando metro has 64.8% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • Orlando ranks 7th in U.S. for economic growth (Milken Instutute/ Orlando Sentinel, 2018)
  • Major employers in Orlando market: Walt Disney World Resort; Advent Health; Universal Orlando Resort; Orange County Public Schools; University of Central Florida; Lockheed Martin; and Darden Restaurants.
  • Space coast area has attracted $1.4 billion in capital investments over the past 6-years and generated 1,800 new jobs in 2017 (WSJ, 2017)
  • Florida state ranks 4th most favorable in the country in State Business Tax Climate Index (Tax Foundation, 2019). Orlando inherits the same rank being part of Florida.
  • Orlando metro's economy is worth $141 billion in Gross Metro Product and projected to grow to $149 billion in 2019 (USMayors.org, 2018)
  • Together Walt Disney World Resort and Universal Orlando Resort employ 96,000 people and drive tourism (Orlando Economic Partnership)
  • Orlando metro employment growth is at 3.5% and predicted to grow at 2.5% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Watermill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $105k336k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Watermill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8502089

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Lakemont Elementary School Primary Regular 656 45 8
Cornerstone Charter Academy K-8 Middle Charter 933 52 7
Cornerstone Charter Academy High School High Charter 372 21 7

Lakemont Elementary School

  • Education Level: Primary
  • # of students: 656
  • # of teachers: 45
8
GreatSchools Rating

Cornerstone Charter Academy K-8

  • Education Level: Middle
  • # of students: 933
  • # of teachers: 52
7
GreatSchools Rating

Cornerstone Charter Academy High School

  • Education Level: High
  • # of students: 372
  • # of teachers: 21
7
GreatSchools Rating
 

$305,100$372,900$339,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,251
Property Tax -$386
Property Insurance -$142
Property Management Fees -$129
CASH FLOW
-$77

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$339,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.63%
Appreciation Year (1-5) 8.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.99%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,251

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$17,648

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,830

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,864

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$1,8304$1,9505$1,965
$1,965
RENT COMPS ANALYSIS
  • 4237 Watermill Ave Orlando, FL 3
    • 3 beds 2 baths ∙ 1,771 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,771 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $1.03
    •  
  • 9409 Telfer Run Orlando, FL 1
    • 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 1992
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.01
    •  
  • 4405 Bridgewater Dr Orlando, FL 2
    • 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1983
    property image
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
  • 4225 N Econlockhatchee Trl Orlando, FL 4
    • 3 beds 2 baths ∙ 1,771 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,771 Sqft ∙ Built 1984
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.10
    •  
  • 8635 Port Said St Orlando, FL 5
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1978
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,965
    • $1.06
    •  
PROPERTY LISTING DETAILS
Luke Vargas
1.407.615.1149
Florida Home Realty & Invest
Tobin Brinker
1.866.250.5610
RentVest Florida
CQ1057457
Stellar Multiple Listing Service ( MFRMLS)
MLS #: O5910769
Last Updated: 12/10/2020
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